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Effects of extreme weather events on smes: a literature review and synthesis

Wedawatta, GSD, Ingirige, MJB and Amaratunga, RDG 2009, Effects of extreme weather events on smes: a literature review and synthesis , in: 9th International Postgraduate Research Conference in the Built and Human Environment, 28th January 2010, Salford, Greater Manchester..

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    Abstract

    Small and Medium-scale Enterprises (SMEs), which generate more than one half of the employment (58.9%) and turnover (51.9%), form an important sector of the UK economy. Although they are the main drivers of the UK economy, they are also said to be the most vulnerable to the impacts of Extreme Weather Events (EWEs). The world in recent years has experienced a significant number of EWEs, and SMEs have suffered significant economic losses as a result. The now apparent climate change, which is mostly attributed to human interference with the environment over the past few decades, is believed to have a strong link with the increase of EWEs in the recent past. Threats of EWEs are expected to further increase due to their increased frequency and magnitude and increased vulnerability to their effects. Interestingly, EWEs seem to present businesses with various business opportunities and positive consequences as well, besides the much feared and overwhelming threats and negative consequences they present. Understanding such impacts has become a necessity to improve the resilience of SMEs so that they will be better prepared to minimize the negative consequences and maximize the positive consequences posed by EWEs. This paper attempts to bring together and evaluate the current knowledge with regard to the effects of EWEs on SMEs. The paper establishes the case for more in-depth study with this regard and concludes by stressing the need for improving the resilience of SMEs to EWEs.

    Item Type: Conference or Workshop Item (Paper)
    Uncontrolled Keywords: Business failure, climate change, extreme weather events, SMEs
    Themes: Built and Human Environment
    Schools: Colleges and Schools > College of Science & Technology > School of the Built Environment > Centre for Disaster Resilience
    Publisher: University of Salford
    Refereed: Yes
    Depositing User: Gayan Wedawatta
    Date Deposited: 12 Oct 2011 13:09
    Last Modified: 20 Aug 2013 18:13
    URI: http://usir.salford.ac.uk/id/eprint/18252

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